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2.27. "Projected Tax Increment" means with respect to any period, the Projected <br />Townhome Tax Increment for such period, plus the Projected Commercial Tax Increment <br />for such period. <br />2.28. "Projected Townhome Tax Increment" with respect to any given period, <br />the amount shown as such in the attached Exhibit N. <br />2.29. "Pro Rata Share" with respect to each Parcel means the percentage set <br />forth in the table below <br />Parcel <br />Pro Rata Share <br />1 <br />40.19% <br />2 <br />08.78% <br />3 <br />15.23% <br />4 <br />11.39% <br />5 <br />24.41% <br />As to any Parcel that is subdivided, each separate tax parcel within that Parcel will be <br />allocated a portion of that Parcel's Pro Rata Share on the basis of usable square footage <br />with respect to units within a common interest community, or, in all other cases, the <br />square footage of such portion's surface area. <br />2.30. "Purchase Agreement" means the purchase agreement described in Section <br />5.2. <br />2.31. "Redevelopment Plan" means the Redevelopment Plan the City adopted <br />for Redevelopment Project Area No. 1. <br />2.32. "Redevelopment Project" means the City's Redevelopment Project Area <br />No. 1 which the City created pursuant to Minnesota Statutes, Section 469.001 through <br />469.047. <br />2.33. "State" means the State of Minnesota. <br />2.34. "Stipulated Settlement Agreement" means the Stipulated Settlement <br />Agreement between the EDA and Guerin Family Limited Partnership, a copy of which is <br />attached as Exhibit I. <br />2.35. "Surplus Commercial Tax Increment" means with respect to any period, <br />the amount by which Tax Increments derived from the Development Property for such <br />period are greater than the Projected Commercial Tax Increment for such period. <br />2.36. "Surplus Townhome Tax Increment" means with respect to any period, <br />the amount by which Tax Increments derived from the Townhome Development Property <br />for such period are greater than the Projected Townhome Tax Increment for such period. <br />2.37. "Tax Increments" means the tax increments which are derived under the <br />Tax Increment Act from the taxes due and payable with respect to certain property within <br />-4- <br />